Three automakers, including the Ford Motor Company, will get the first $8 billion from a $25 billion loan program intended to accelerate development of more fuel-efficient vehicles, the national energy secretary said Tuesday.
After months of uncertainty, the Energy Department is beginning to lend money from a $25 billion loan program to develop fuel-efficient cars. Ford Motor Company, Nissan Motor Company and Tesla Motors are slated to get the first round of loans.
President Barack Obama announced the first national standard for greenhouse-gas emissions from automobiles and tougher fuel mileage standards that mark the most sweeping new regulation of the industry in decades.
After Tata Motors and General Motors, now Ford India Pvt Ltd plans to launch a small car in India. The launch is expected by the first quarter of calendar year 2010.
New Delhi: Ford India said troubles with its parent in US will not affect its planned $500 million investments for India, and added that the company's small car would hit the market by early 2010 with localisation as high as 85% to keep the price competitive.
NEW YORK (Reuters) - Chastised by Congress and lampooned by comedians for flying private jets to Washington while asking for taxpayer money, the chief executives of U.S. automakers have learned a lesson: drive, don't fly.
PASSENGER-VEHICLE SALES in China fell for a second month in a row in September, dropping 1.4% from a year earlier to 552,800 vehicles and heightening worries about a demand slowdown.
Sales of passenger vehicles in the January-September period rose 11.4% to 5.1 million units, the China Association of Automobile Manufacturers said.
